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Property profile & analytics

12511 Clifton Blvd Lakewood, OH 44107

  • Apartment buildings
  • 84,528 SF
  • 1.77 lot acres
OFF-MARKET
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US66-1249324
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Apartment buildings

Property Details for 12511 Clifton Blvd

Year built
1943
Lot size
1.77 lot acres
Property size
84,528 SF
Property type
Apartment buildings

Description

This exceptional investment opportunity presents a portfolio of two well-maintained apartment buildings totaling 75 units, situated on Clifton Boulevard in Lakewood, Ohio's prestigious Gold Coast submarket. The portfolio comprises The Traymore, featuring 29 spacious two-bedroom units, and Clifton Cove, offering 46 one-bedroom units. Spanning 84,528 square feet on a 1.77-acre lot, this property boasts a current occupancy rate of 92%, ensuring immediate cash flow for the investor. Significant capital improvements exceeding $1.2 million have been implemented since 2022, including renovations to 75-80% of the units, minimizing the need for immediate repairs and maximizing operational efficiency. The current rent roll and normalized expenses project an impressive 8.3% capitalization rate, with a clear path to achieving double-digit returns through strategic rent optimization and further cosmetic upgrades. This prime location within one of Cleveland's most sought-after rental markets guarantees strong tenant demand and long-term stability. The portfolio offers a compelling combination of immediate income generation and significant value-add potential, making it an ideal investment for discerning buyers seeking high returns in a desirable location. The asking price for this exceptional multifamily investment is $5,250,000.


Value Estimations

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Location Insight

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City
Lakewood
County
Cuyahoga
State
Ohio
Longitude
-81.77558
Latitude
41.48874
More about this property
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